Citigroup Lowers Sherwin-Williams (NYSE:SHW) Price Target to $375.00

Sherwin-Williams (NYSE:SHW) had its price target lowered by Citigroup from $423.00 to $375.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Citigroup’s price objective suggests a potential upside of 11.38% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company reduced their price target on Sherwin-Williams from $400.00 to $380.00 and set an “equal weight” rating for the company in a research report on Thursday, April 3rd. Berenberg Bank upgraded Sherwin-Williams from a “hold” rating to a “buy” rating and lifted their price target for the company from $321.00 to $420.00 in a research report on Friday, January 24th. Barclays reduced their price target on Sherwin-Williams from $385.00 to $355.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 1st. Morgan Stanley reduced their target price on Sherwin-Williams from $450.00 to $405.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. boosted their target price on Sherwin-Williams from $370.00 to $390.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sherwin-Williams presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.31.

Sherwin-Williams Stock Performance

NYSE:SHW opened at $336.69 on Tuesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.79 and a quick ratio of 0.46. The business has a fifty day simple moving average of $348.45 and a two-hundred day simple moving average of $361.03. Sherwin-Williams has a 1 year low of $282.09 and a 1 year high of $400.42. The company has a market capitalization of $84.68 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.98 and a beta of 1.26.

Sherwin-Williams (NYSE:SHW) last released its earnings results on Thursday, January 30th. The specialty chemicals company reported $2.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.07 by $0.02. Sherwin-Williams had a return on equity of 74.50% and a net margin of 11.61%. During the same period in the prior year, the company earned $1.81 earnings per share. On average, analysts expect that Sherwin-Williams will post 12 earnings per share for the current year.

Insider Activity

In other news, insider Colin M. Davie sold 2,799 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $360.30, for a total value of $1,008,479.70. Following the completion of the sale, the insider now owns 5,365 shares of the company’s stock, valued at approximately $1,933,009.50. The trade was a 34.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sherwin-Williams

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Legacy Capital Wealth Partners LLC lifted its stake in shares of Sherwin-Williams by 2.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 1,028 shares of the specialty chemicals company’s stock valued at $350,000 after acquiring an additional 29 shares during the last quarter. Apella Capital LLC raised its position in Sherwin-Williams by 2.1% during the 4th quarter. Apella Capital LLC now owns 1,465 shares of the specialty chemicals company’s stock valued at $498,000 after purchasing an additional 30 shares during the last quarter. Atlantic Edge Private Wealth Management LLC raised its position in Sherwin-Williams by 0.8% during the 4th quarter. Atlantic Edge Private Wealth Management LLC now owns 3,742 shares of the specialty chemicals company’s stock valued at $1,272,000 after purchasing an additional 30 shares during the last quarter. IMS Capital Management raised its position in Sherwin-Williams by 2.4% during the 4th quarter. IMS Capital Management now owns 1,287 shares of the specialty chemicals company’s stock valued at $437,000 after purchasing an additional 30 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its position in Sherwin-Williams by 2.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,146 shares of the specialty chemicals company’s stock valued at $388,000 after purchasing an additional 30 shares during the last quarter. Institutional investors own 77.67% of the company’s stock.

About Sherwin-Williams

The Sherwin-Williams Company engages in the development, manufacture, distribution, and sale of paints, coating, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group.